IndiGo recorded Rs 640 crore net profit in Q1

In comparison rivals Jet Airways and SpiceJet reported net profit of Rs 226 crore and Rs 72 crore respectively

Driven by low fuel prices, low-cost carrier IndiGo posted a net profit of Rs 640 crore in June 2015 quarter, according to the airline's red-herring prospectus.  In comparison, rivals Jet Airways and SpiceJet reported net profits of Rs 226 crore and Rs 72 crore, respectively, in the first quarter of FY16. IndiGo, which flies 97 Airbus A320s and around 650 daily flights, reported a revenue of Rs 4,317 crore and earnings before interest, taxes, depreciation and amortisation of Rs 975 crore in the quarter under review.

The comparative figures in the year-ago quarter are not available as the airline does not disclose quarterly results.

IndiGo reported load factors of 88 per cent in the April-June 2015 quarter, which is a peak season for travel thanks to school and college vacations. As of August, it had a market share of 35.8 per cent.

Jet fuel prices have been lower by around 30 per cent on a year-on-year basis, enabling airlines to keep operating costs low. IndiGo's finance costs, too, are lower compared to peers and in the first quarter of FY16, it spent Rs 33 crore towards interest expenses.

IndiGo had reported a net profit of Rs 1,304 crore for FY15, mainly on account of low fuel costs, passenger growth and better yields.